Allstate Corp Buys Shares of 41,169 SoFi Technologies, Inc. $SOFI

Allstate Corp purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,169 shares of the company’s stock, valued at approximately $1,088,000.

A number of other large investors also recently modified their holdings of SOFI. Xcel Wealth Management LLC increased its holdings in SoFi Technologies by 0.6% during the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock worth $1,874,000 after acquiring an additional 392 shares during the period. Key Client Fiduciary Advisors LLC boosted its holdings in SoFi Technologies by 3.1% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after purchasing an additional 419 shares during the period. Cigna Investments Inc. New grew its position in shares of SoFi Technologies by 4.2% during the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock valued at $291,000 after purchasing an additional 446 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in shares of SoFi Technologies by 46.9% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock worth $39,000 after purchasing an additional 469 shares during the period. Finally, Soltis Investment Advisors LLC raised its position in shares of SoFi Technologies by 1.8% in the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock worth $518,000 after buying an additional 501 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $25.64 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. SoFi Technologies, Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $32.73. The firm has a market cap of $30.92 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.92. The business has a 50 day moving average price of $27.18 and a 200-day moving average price of $26.09.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 91,837 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the transaction, the chief technology officer owned 794,598 shares in the company, valued at $21,168,090.72. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total value of $273,286.20. Following the transaction, the executive vice president directly owned 265,034 shares of the company’s stock, valued at $7,004,848.62. The trade was a 3.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 157,777 shares of company stock worth $4,119,014. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SOFI. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Barclays lifted their price target on SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Bank of America started coverage on shares of SoFi Technologies in a research report on Tuesday, January 6th. They issued an “underperform” rating and a $20.50 price objective on the stock. Keefe, Bruyette & Woods raised their target price on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. Finally, Truist Financial cut their price target on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.50.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.